# PPP loan: THE LAKE EFFECT RESTAURANT INC.
> **$176K** approved 04/06/2020 · Paid in Full · Loan `5737937010`
## Borrower
- **Name:** THE LAKE EFFECT RESTAURANT INC.
- **Address:** 394 S. Lake Avenue #107A, DULUTH, MN, 55802-2325
- **NAICS:** 722511
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $176K
- **Initial approval:** $126K
- **Forgiven:** $178K (101%)
- **Forgiveness date:** 03/01/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $141K
- **Rent:** $25K
- **Utilities:** $7K
- **Health care:** $4K
- **Jobs reported:** 40
## Lender
- **Originating:** National Bank of Commerce
- **Servicing:** National Bank of Commerce (WI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*